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Better times are ahead for the trucking industry and 2024 will be an improvement over the previous year, but progress will be incremental. It’s important that, as the market continues to rebound, companies stay mindful of current trends in order to remain competitive.
The trucking industry is going through a transformation, adapting to new technology, sustainability measures, and changing consumer demands. The transformation also includes improvement in areas of fleet management, vehicle and fuel efficiency, and driver safety.
Trucking industry decision-makers rely on Trends to provide data on current market conditions, such as: trucking revenues, truck freight tonnage, employment trends, safety issues, diesel fuel price trends, domestic and international trade, taxes paid by the industry, and the environment.
Latest US Trucking Industry statistics in with in-depth analysis, key statistics, and future forecasts. Adapt to market trends, sustainability, and innovations.
2024 Trucking Industry Forecast. It’s been an interesting 2023 for the trucking logistics industry, between rising and dropping fuel prices, economic volatility, freight recessions, driver shortages, inflation battles and so much more. So what’s coming around the bend as we move into 2024? 1. Continued economic concerns.
The trucking industry is currently worth a whopping $2.2 trillion globally and $532.7 billion in the U.S. But what do the transportation trends look like in the coming years? The trucking industry is projected to grow at a rate of 5.4% with a value of $3.4 trillion by 2030. 1.
The trucking industry will closely monitor costs in 2024, as it works to retain labor and adopt EVs and other trucking technology while awaiting a freight rebound. shaunl via Getty Images. Listen to the article 8 min.
Trucking Industry Outlook for 2024. The trucking industry in the United States has faced multiple challenges over the last few years. Rising fuel costs, increasing insurance claims and driver shortages are just a few things that have impacted the trucking economy.
Washington – Today, the American Trucking Associations released new projections showing truck tonnage will grow to 14.2 billion tons by the year 2034, securing the industry’s position as the dominant mover of goods in the United States.
Still, the industry can expect bright spots this year. Investments in technology such as EVs and autonomous vehicles are ramping up, while OEMs expect to increase production as supply chains improve. And industry experts say while mergers and acquisitions may cool due to the softening economy, deals are likely to continue.